As reactions continue to trail the Dangote Refinery and the Nigerian National Petroleum Company Limited’s fuel price deal, the House of Representatives Minority Caucus has described the N980 per litre of pump price as outrageous and exploitative....READ THE FULL ARTICLE HERE ▶▶
Chairman of the caucus, Kingsley Chinda, said the development was a burden added to the already struggling Nigerians.
In a statement that he signed on Tuesday in Abuja, the lawmaker expressed his outrage over the pump price that varies from N950 to N980 and above N1000 per litre depending on the parts of the country.
The statement said: “We find this pricing regime to be not only burdensome but utterly unacceptable, particularly in light of the fact that this fuel is refined locally.”
The lawmaker emphasised that locally refined fuel should be priced significantly lower than imported fuel, as it avoids costs such as landing charges and import duties, insisting that the pricing model was wrong for all intents and purposes.
“It appears Nigerians are unfairly exploited, especially at a time when many are facing severe economic challenges,” he said, urging NNPCL and Dangote Refinery to reconsider their stand in the interest of the poor masses.
The statement warned that allowing the current pricing arrangement to continue would only deepen the economic hardships of millions and erode trust in local refineries’ ability to deliver affordable fuel. The caucus called on regulatory bodies and the government to urgently review the pricing framework to ensure Nigerians are not subjected to unsustainable fuel prices.
The caucus affirmed its commitment to protecting the welfare of the Nigerian people and pledged to engage relevant stakeholders to ensure fair and just fuel pricing.
